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Below is an Interesting article I found, which says that.....Do not & ~+ D5 R, U0 h2 \) V! X
expect much from Crude Oil producers and future is not with the
& G. I5 w2 `# I0 jcompanies producing Jet fuels but Biofuels. Also no wonder if some of 6 }0 C1 J, L! Q' J6 D1 Q! D: K. s( a
these oil producer will go bankrupt or out of the business even if
4 B3 b: j( C& L. V: Rcrude prices improves. This implies also to good names such as Shell, 3 J7 m7 g2 F% N$ L
EXXON, BG, BP, Cheveron ....xyz.. oils # W3 G ?) k6 Y8 S" y
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Recently OPEC reduced crude oil production twice over just a few * ?- D8 j% B! k) o4 k
months. There are three wars going on in Gaza, Iraq and Afghandistan. & Q3 ]& H6 d' n! t
A year ago these things would have spiked the price of crude oil by at 9 w' V$ l6 \7 q0 Q
least $50.00 per barrel. Today, oil price declined by a record amount. 6 t; K, Y% i9 S
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6 O5 X; D; b8 Y- L4 Z8 Z0 jThere are several reasons the price of oil is decreasing in the face
* Y" j; P- k, e ^) ` [9 g4 Mof so much news. These reasons are:
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1. New oil has been found in Canada, Montana, North & South Dakota and # o) y$ H% f8 c$ h4 c1 b
in the ocean near Brazil. Each of these oil fields has more oil than ; z% N3 H" U9 a. R
Arabia.
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- ]) N3 i" P# j) I% j# Y7 D2. New natural gas has been found in Pennsylvania and West Virginia. + }' f, ^/ W, j
This is the largest find in North America.
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3. New methods of injecting CO2 and surfactants into oil wells is
4 f# o! O- Z% }( R/ ~% f, W6 Z( Vbeing used to double their output. 0 r6 n2 B4 W$ A0 d6 w. G
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; m! b, U! s3 v- F7 R" M6 W4 o, m5 w4. Production of bio-fuels is beginning to reach critical mass. Bio + j) K) S9 ^. m: n
fuel is being produced from many plants and algae. The production 1 F/ l0 d+ S; {7 Y2 }) ~) p$ x
potential per acre in some cases is astounding. Many countries are
" L1 l, C2 ^9 D/ i/ V }racing to produce bio fuels.
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6 k& j7 C- |6 W5 ]! \" H8 Q5. Virtually every restaurant in the US and all food processing plants
6 {( N& a7 n! D- N1 mare now selling their used oil to bio-diesel producers. Every pork,
: t \6 K: q- L8 Z, h9 a jcattle, turkey and chicken processing plant will soon sell their fat
5 O& _0 U! ~+ n+ x5 q/ H/ zto bio-diesel producers. One pork processing plant in Oklahoma is # ~" e* ?, A5 b, e0 K s% k1 {
producing 30,000 gallons of bio-diesel per day from pork fat. " w5 S" ~1 f6 U' N( b6 ]; C
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6. There are 99 nuclear reactors in various stages of planning and 0 z1 z7 `( C2 h4 D
construction around the world at this time. Several hundred more are 5 [8 a: w0 w8 g5 y/ y: b
expected to be built in the future. Much of the energy they produce & h9 d! n( Y; o8 v
will replace oil.
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( w) I1 h S1 ~$ B# {7. Every company in any form of transportaion business is replacing ( f' k# e2 w7 r( C7 W
older equipment such as trucks, airplanes, train engines, ships, etc. I! ?5 l% U6 ]" c0 B- x
with new more fuel efficient equipment. Airlines and railway companies
/ N0 R; _; g# S( p' p, |& y1 u. Zare experiencing 20% to 25% better fuel econony with the new 0 ]4 b' C! y2 q9 g& {6 ^0 T
equipment. 4 H# `" U2 A) V$ s5 c7 g. K
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Airlines are flying airplanes with bio-fuel. They are finding the bio-
0 [; i6 i2 k5 vfuel is cleaner and performs better than jet fuel. a/ S) Y. @" j8 [9 l5 ~
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8. Cities and counties throughout the US are selling the rights to
" o/ c, z. l9 `, Ncapture methane gas from landfills. This is a huge source of gas ' _! n! K$ L( m) x; X; ]) T' [
available at very little cost or risk. The gas is displacing crude ) \+ C0 W& c6 h8 Y( r& \
oil.
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9. Coal is being transformed into a clean burning liquid fuel. The CO2
( \" D( z9 R: Y E! Y0 J" Tproduced as a byproduct is sold to oil companies for injection into
. y( n6 Z) B qoil wells. 9 Q5 k9 R4 [- \7 }
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3 r+ g e+ b0 ^8 ~1 j3 t; `10. Solar, wind and ocean energy is displacing oil as an energy & z. m) |0 R' K/ k
source. Three new wind turbines are being erected every day in the US.
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2 ]& S2 U8 n2 _! ?$ G$ ^Each of the above by itself will not make a large difference in the
! M0 D5 i" q0 ?2 q8 Lprice of crude oil but the sum of all of them together is world
' l/ \2 u) Y) c/ H( hchanging. The important thing is that OPEC no longer has the ability
7 ^; a- r4 O2 c: V! R! Dto control oil prices. . {: `- m# |- s" Q; c9 D
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1 b. k" @4 G& a$ w# ]With the above scenario, I still believe that there are under 2 Y# @- | g; a- \
performed OIL companies and probably they are yet to get the justified ( S* k1 U& a% n7 h- e! a/ d8 L& K
value .....
1 W* F* v/ J- J+ j* J7 {2 S7 JIAE- Ithaca , EPL Energy Partners Ltd, Opti etc ... 9 J. }4 \! x1 s: ?9 F+ L$ M+ I
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; z2 V+ Z; c* J! c* V) w5 |7 JThe above articles are from WSJ .............PUBLISHED ON 9TH JAN ' O& g2 T+ z0 Z! E% L9 t [
2009 ... FYI-Only |
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